Property value increases in Tennant Creek have tracked higher than the NT average of -2.44% over the last 12 months.
Tennant Creek,0860 was ranked 502 in Australia by increase in median property value over the quarter.
Using the current median advertised rental of $405 and the average annual increase in value of a median property of 6.33%, investors should hope to achieve an overall return of 9.64%
Information supplied by:
Tennant Creek, NT – Occupancies stay low
Median house price: $190,000
Vacancy rate: 0.6%
Three-year growth: -24.0%
Tennant Creek showcases the heart of the Outback, with a wealth of history, nature and culture. The last gold rush in Australia happened in this area in the 1930s, and since then, it has been known as the Top End’s “heart of gold.”
The Battery Hill Mining Centre celebrates this heritage by offering an underground tour. The Warumungu people reside here, and the Nyinkka Nyunyu Art and Culture Centre pays tribute to the native culture next to the Winanjjikari Music Centre. Lake Mary Ann is a picturesque swimming spot that can be reached via a walking trail through the Honeymoon Ranges.
After prolonged period of decline, Tennant Creek is picking up, with vacancy rates remaining quite tight.